Pininfarina in deep trouble
Pininfarina, the Italian design company which has designed everything from Ferraris to Mitsubishis, has announced today it will propose to its shareholders a 100 million euro capital increase to combat its ever increasing debts.
As a result the Pininfarina family who currently own 55 per cent are set to lose their majority share in the company.
Last year the company's debts grew to 185.4 million euros from 129.9 million euros in 2006. 2008 will also be a negative but there are plans for an operative breakeven in 2009.
It's not all bad new though, the company is already heavily invested in a new electric car being built in a joint venture with French battery specialist Vincent Bollore.
Pininfarina plans to start building its electric car by 2010 with the aim of selling 15,000 units per year. The four-seater will be badged as a Pininfarina in Europe, US and Japan.
If Pininfarina's car does come to life, all the figures known so far are astounding. Firstly, it is completely electric driven, meaning it has no CO2 emissions, secondly it will go from 0-50km/h in under 5 seconds (with a top speed of 130km/h) and best of all, it can manage 250km per charge.
As for the battery, the Italian company believes it will last for at least 200,000km. Interestingly, a quick five minute charge will reportedly get you 25km!
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